Building Details

Construction steel

Listing Agency: Howard Hanna Erie Southwest r***@howardhanna.com Show Phone

Listed By: Billie Jo Easterlin · License #RS287377 Show Phone

Source: Exprealty

Added: Jul 30 Changed: Sep 13 Last Checked: Oct 11 at 6:50AM

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Investment Insights

Based on property information with market context.

This steel warehouse measures 54x36'6" and offers 1,944 square feet of enclosed storage on a .8-acre parcel with an 180x120 lot. The building includes a cement floor, a 12' insulated ceiling, three 10' tall by 12' wide garage doors with automatic openers, and three man doors. Its 200 Amp electrical service includes two 220 outlets positioned on opposite sides of the structure.

Additional storage is provided by two 11x36 overhangs and a separate 12x14 shed with electric. An exterior water bib adds utility, while the enclosed building can accommodate 8+ vehicles. The property is located at 23409 Arrow Dr in Union City, PA 16438.

Key Highlights

• 54x36'6" steel warehouse with 1,944 square feet of enclosed space
• .8‑acre parcel with an 180x120 lot
• (3) 10' tall x 12' wide garage doors with automatic openers

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$14,600

Cap Rate

7.89%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$292,000 $292.0K

Cap Rate 7%

$208,571 $208.6K

Cap Rate 9%

$162,222 $162.2K

Market Conditions

NOI Build-Up for 1,944 SF

Gross rent

$18.4K $9.48/SF

− Vacancy

−$1.3K −$0.64/SF

EGI

$17.2K $8.84/SF

− OpEx

−$2.6K −$1.33/SF

NOI

$14.6K $7.51/SF

Area

Erie County, PA

Vacancy

6.80%

Lease Rate

$9.48 /SF/Yr

Expense Ratio

15.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$292,000

Cap Rate 7%

$208,571

Cap Rate 9%

$162,222

Alternative Uses

Best Use

Warehouse

$208.6K

$182.5K – $243.3K (±1% cap)

NOI $14,600 @ 7.0% cap · market cap 7.89%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$482.3K

$422.0K – $562.7K (±1% cap)

NOI $33,760 @ 7.0% cap · market cap 18.25%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Warehouses

Suggested Use

Top Pick Auto Repair Shop Big Box & Wholesale Store Real Estate Agency Furniture & Home Goods Grocery & Convenience Store (Bike/Boat/Book/etc) Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

12 ft

Clear height

3

Drive-in doors

Location Intelligence

Trade Area within ½ mile

32

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 16438, PA

7,504

Population

4,146

Households

1.8

Avg Household Size

44

Median Age

17%

College-Educated

90%

High-School Grad

102.4 sq mi

ZIP Area

73

Density / Sq Mi

$60,559

Median Household Income

$35,208

Median Earnings

$743

Median Rent

$134,400

Median Home Value

Market

Vacancy Rate% for Industrial in Northeast region

5.4% 2019

4.6% 2020

3.2% 2021

3.3% 2022

5.3% 2023

6.6% 2024

7.6% 2025

Questions? Ask Rey

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Frequently Asked Questions

What type of property is this?

Warehouse - Steel construction, automatic garage doors, and a cement floor provide a functional storage facility.

Where is this warehouse located?

The property is located at 23409 Arrow Dr Union City, PA.

What is the asking price?

The asking price for this property is $185,000.

What are key features of this property?

This property features: 54x36'6" steel warehouse with 1,944 square feet of enclosed space; .8‑acre parcel with an 180x120 lot; (3) 10' tall x 12' wide garage doors with automatic openers